"The award should also be seen as a tribute to the Colombian people who, despite great hardships and abuses, have not given up hope of a just peace, and to all the parties who have contributed to the peace process," a statement from the Norwegian Nobel Committee read.

"This tribute is paid, not least, to the representatives of the countless victims of the civil war."

Mr Santos said he was deeply honoured by the prize, which he dedicated to the people of his country.

"I receive this with great emotion. This is a great, great recognition for my country. I am eternally grateful," he said.

"I receive this award in their name: the Colombian people who have suffered so much in this war."

Santos unlikely peacemaker

The scion of one of Colombia's most prosperous families, Mr Santos was not thought likely to spearhead a peace process with FARC.

As defence minister a decade ago, he was responsible for some of the FARC's biggest military setbacks.

Those included a 2008 cross-border raid into Ecuador that took out a top rebel commander and the stealth rescue of three Americans held captive by the rebels for more than five years.

Under the peace deal he negotiated, rebels who turn over their weapons and confess to war crimes will be spared time in jail.

FARC will also get 10 seats in congress through 2026 to smooth their transition into a political movement.

Mr Santos and Mr Londono met only twice during the entire peace process: last year when they put the final touches on the most-controversial section of the accord, the part dealing with how guerrillas would be punished for war crimes, and again last month to sign the accord before an audience of world leaders and United Nations Secretary-General Ban Ki-moon.\

But the committee said: "the fact that a majority of the voters said 'no' to the peace accord does not necessarily mean that the peace process is dead".

"This makes it even more important that the parties, headed by President Santos and FARC guerrilla leader Rodrigo Londono, continue to respect the ceasefire," it added.

Asked why Mr Londono was left out, committee leader Kaci Kullmann Five said Mr Santos had been central to the process.

"President Santos has been taking the very first and historic initiative. There have been other tries, but this time he went all-in as leader of the Government with a strong will to reach a result," she said.

"That's why we have put the emphasis on President."

Mr Londono wrote on Twitter : "The only prize to which we aspire is that of peace with social justice for a Colombia without paramilitarism, without retaliation nor lies".

The $122,7844 prize was announced at the Norwegian Nobel Institute in Oslo, Norway, and will be presented on December 10.

It was the first time the peace prize went to Latin America since 1992, when the committee awarded Guatemalan human rights activist Rigoberta Menchu.

A record 376 candidates were nominated for this year's award.

Last year's peace prize went to Tunisia's National Dialogue Quartet for its efforts to build a pluralistic democracy.